6 things to consider when choosing an employee benefits company

If you’re thinking that now is the time to introduce a brand new employee benefits scheme and are looking into providers, with so much to consider, we’re here to help with our freshly researched, definitive list of what to look out for.

Last week we ran a survey, asking the opinions of experienced professionals in the HR world on their priorities when choosing a provider. By far and away their biggest concerns are making sure they get a cheaper system with more predictable costs and being able to introduce technology that reduces the administration burden of operating a scheme.

As well as these two key areas, there are some other vital points that you need to ensure are covered from the outset. Our handy check-list will help to save you time and avoid some of the potential pitfalls when choosing a provider for your business.

HIDDEN COSTS & ADMIN BURDENS
The technology you receive needs to allow you to make changes without having to involve your provider. Some systems don’t have the capabilities for users to update information themselves and you could end up with unbudgeted for charges for any minor amend. Similarly, you shouldn’t see bills come in for system updates as modern technology can run these automatically without any additional fees or unnecessary admin. The best schemes have fixed fees and you’ll always have the latest software. Even in the initial set-up and introduction of the software, your provider should be able to make the transition so efficiently that there will be no need for extra administrative impact within your team.

CUSTOMER SERVICE SUPPORT
Once you have your new software up and running, you may not feel the need to be constantly in touch with your benefits provider, but for peace of mind they ought to be able to provide you with the reassurance of help always being just a phone call or keyboard tap away, whenever and wherever you need it and on whichever type of device works best for you.

REPORTING AND INSIGHT CAPABILITIES
Your new software system needs to be able to provide you with the right MI to gauge the success of your scheme and to see how each of your benefits are performing. Dashboard reporting allows you to see up to day results at a glance whenever you want to view them. The reporting functionality should be flexible enough to provide both standard and bespoke reporting so you can analyse data, seeing what is and isn’t working and make changes accordingly, fast and efficiently.

USER FRIENDLY SOFTWARE
Securing user buy-in from the outset is absolutely essential for your scheme to succeed. The software you introduce should be intuitive and cloud based so that employees find it quick, fun and easy to use, in jargon free language, immediately feeling engaged. Getting this right will mean your staff are motivated to return and visit the site often. A good provider can match the system to your brand identity which immediately makes users feel at home when interacting with it.

EXPERIENCED ACCOUNT MANAGEMENT
Building a good relationship with your account manager is crucial as you’ll become a partnership in creating a successful scheme. You have to be confident in their knowledge and expertise and they should help guide you through identifying what will work best for your workforce’s demographic and proactively help you fine tune and develop your scheme for the greatest results.

A CLEAR ROADMAP
The best benefits providers will produce a clear roadmap with a strong and achievable vision. You need to have confidence that the product you’re working with is being developed, supported and will lead innovation in the employee benefits marketplace and ought to provide opportunities for your input. Check when short listing providers that they will be able to work with you in this way.

Feel free to get in touch if you’d like to see a quick demo and find out more about how You at Work can help you get the right benefits scheme in place for your business, quickly and easily.